Economic analyst, Peter Baur, from the University of Johannesburg, says President Cyril Ramaphosa is set to move South Africa in a new direction towards economic development and increased international investment in the country.
Ramaphosa took his oath of office at Loftus Versfeld Stadium in Pretoria and pledged to deal with unemployment, poverty, and corruption.
He is set to announce his new cabinet on Monday.
Baur says it would be in the best interest of the country for Ramaphosa to keep Tito Mboweni as Finance Minister.
“This is going to be a challenge; we want to see how he reshuffles his cabinet etc. I think Cyril Ramaphosa might be a turning stone in South Africa he had mentioned issues such as poverty, unemployment, corruption and all of these things needs to be addressed and he has made that very, very clear. We’re moving into the technology age I really hope that we keep Tito Mboweni, he is highly respected internationally, and he was an outstanding reserve bank governor. I believe he has the ability and the potential to carry through; he is probably one of the most powerful people in the country right now. And he has shown us time and time again through the difficulties that this country’s gone through, he has shown us that he’s level headed and has the potential to drive this economy into a whole new era.”
Meanwhile, Political analyst Professor Lesiba Tefo has echoed sentiments of many South Africans that everything that was contained in President Cyril Ramaphosa’s inauguration speech is nothing new.
Proffessor Tefo says alleviating poverty, creation of jobs and the eradication of corruption are the same promises that have been made by former presidents including Nelson Mandela.
He says Ramaphosa made the right statements all that is needed now is action.
Inauguration Speech 2019 (Text)
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